Wednesday, December 21, 2011

DailyMarkets.com - MMI Wins Lawsuit Against Microsoft

DailyMarkets.com - MMI Wins Lawsuit Against Microsoft

MMI Wins Lawsuit Against Microsoft

Posted: 21 Dec 2011 07:50 AM PST

Recently, Motorola Mobility Inc. (MMI) received a favorable ruling from the International Trade Commission (ITC) relating to a patent infringement case against Microsoft Corp. (NASDAQ:MSFT). The ITC ruled that Motorola did not violate six of the seven alleged patent rights of Microsoft.
Earlier in October 2010, Microsoft had filed a lawsuit against Motorola alleging wrong usage of its nine patented technologies. However, Microsoft withdrew two patents from the alleged nine during the court … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Jabil Misses 1Q Estimates

Posted: 21 Dec 2011 07:35 AM PST

Jabil Circuit Inc. (JBL) reported first quarter 2012 earnings of 56 cents per share, missing the Zacks Consensus Estimate by 2 cents. Jabil also missed the Zacks Consensus revenue Estimate of $4.41 billion.
Earnings per share (EPS) increased 7.7% year over year from 52 cents (including stock-based compensation but excluding amortization). The strong results were primarily driven by solid top-line growth and operating margin expansion in the quarter.
Revenue
Revenue increased 6.0% year over year … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oracle Reports Disappointing 2Q

Posted: 21 Dec 2011 07:25 AM PST

Oracle Corp. (ORCL) reported disappointing second quarter 2012 results, with earnings of 53 cents per share missing the Zacks Consensus Estimate by 2 cents. Total revenue also came in below the Zacks Consensus Estimate of $9.23 billion.
Earnings per share (excluding one-time items but including stock-based compensation expenses) increased 14.7% from 46 cents in the year-ago quarter. Excluding one-time items and stock-based compensation expenses, non-GAAP earnings stood at 54 cents per share … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Walgreen Disappoints In 1Q

Posted: 21 Dec 2011 07:05 AM PST

Walgreen (NYSE:WAG) reported earnings of 63 cents per share in the first quarter of fiscal 2012, missing the Zacks Consensus Estimate of 67 cents and but a penny higher than the year-ago earnings.
The result includes a negative impact of 1 cent per share related to the delay in the cough/cold and flu season, 1 cent in comparable pharmacy sales related to Walgreen's decision of not renewing the Express Script (NASDAQ:ESRX) contract and 1 cent in related expenses. As per the decision of non-renewal of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Great Wolf Raises Outlook

Posted: 21 Dec 2011 07:05 AM PST

Madison, Wisconsin-based Great Wolf Resorts Inc. (NASDAQ:WOLF) recently raised its revenue per available room (RevPAR) and adjusted EBITDA outlook for the upcoming fourth quarter of 2011 as it believes that the quarter is progressing impressively and above expectation.
For the upcoming quarter, the company expects adjusted EBITDA to exceed the higher end of its previous guidance range of $10.5-$12.5 million and same-store RevPAR growth to be 8.5%, up from the earlier projection range of 6-8%.
For … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Paychex Beats Despite SMB Slowdown

Posted: 21 Dec 2011 06:50 AM PST

Paychex Inc. (NASDAQ:PAYX) reported second-quarter fiscal 2012 earnings of 39 cents per share, beating the Zacks Consensus Estimate by a penny. The quarter's results indicate slow recovery in the small and medium business (SMB) sector. Paychex is highly dependent on the performance of the SMB sector. The sector is being hit hard by lackluster demand due to high unemployment and inflation rates. Shares decreased 1.62% in after-market trade.
Revenues
Paychex reported second-quarter 2012 revenues of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ECB Facility Fails To Unfreeze Liquidy, U.S. Dollar Rallies

Posted: 21 Dec 2011 06:45 AM PST

Fundamental Headlines
• Bernanke Prods Savers to Become Consumers – Bloomberg
• ECB Lends Banks $645 Billion, Exceeding Forecast – Bloomberg
• Confidence Boost from ECB Lending Fades – Reuters
• China Considers Letting Pensions Invest in Domestic Stocks – WSJ
• Doubts Arise in Euro's Birthplace – WSJ
European Session Summary
The rally the past few days was certainly interesting. But before that is dissected, it is worth to take note of some background information. As per … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stock Market News Briefs: General Mills, Jefferies Group, Oracle, AT&T, Zimmer Holdings

Posted: 21 Dec 2011 06:35 AM PST

    Shares of Jefferies Group, Inc. (NYSE:JEF) soared 22.9% after the company posted earnings of $0.17 per share for the fourth quarter, well ahead of the Zacks Consensus Estimate of $0.14 per share

    Oracle Corporation (NASDAQ:ORCL) reported earnings of $0.43 per share, excluding one-time items, significantly lower than the Zacks Consensus Estimates of $0.55 per share. Oracle also reported lower hardware and software sales

    General Mills, Inc. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

P&G Fears Slow 2Q; Stops Hiring

Posted: 21 Dec 2011 06:35 AM PST

Fearing a slow second quarter ahead, the world's leading consumer goods manufacturer Procter & Gamble Co. (NYSE:PG) has decided to halt recruitment for the coming six months. The consumer giant chose to shed its workforce to cut down on the operational costs.
Instead of retrenching its human resource, the company is devising a $1 billion restructuring that includes voluntary early retirement incentive packages for some employees.
Since 2009, P&G has increased its work force from 127,000 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Ease Off 1-week High After ECB Tender

Posted: 21 Dec 2011 06:30 AM PST

Forexpros – Gold futures erased gains on Wednesday, retreating from a one-week high after the European Central Bank allotted a record amount of loans to European lenders at a refinancing operation earlier, underlining concerns over the health of the region's banking sector.

On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,616.05 a troy ounce during early U.S. morning trade, easing down 0.1%.

It earlier rose by as much as 1.6% to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Too Much Sugar!

Posted: 21 Dec 2011 06:22 AM PST

Wednesday, December 21, 2011
Though we may see bouts of buying in the Sugar futures market in the coming weeks, it may be difficult for any rally to be sustained given the rather bearish supply fundamentals seen in 2012. Some traders may perhaps wish to use any short-term rallies to explore buying bear put spreads in Sugar futures options. For example, with March Sugar trading at 23.67 as of this writing, the March 23 puts could be bought and the March 22 puts sold for a 0.34 debit, or $380.80, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD At Support Area (1.3017-1.3040)

Posted: 21 Dec 2011 06:22 AM PST

The EURUSD has continued the move lower in early NY trading and has moved below the 100 hour MA at the 1.3040 level. The next key target comes against the trendline off the hourly chart above at the 1.3017 level.  I would expect profit taking buyers in this area as the holiday up and down action continues.   
A move below the trendline is needed to turn the tide the other way. A move above the 1.3040 level will look toward the 1.3060 as the first upside target. The low from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UCB Launches RA Drug Study

Posted: 21 Dec 2011 06:20 AM PST

Confirming previously disclosed plans, UCB (UCBJF) recently announced the initiation of an efficacy study (EXXELERATE) on Cimizia (certolizumab pegol). The study is designed to evaluate the short- (12 weeks) and long-term (104 weeks) efficacy of Cimzia plus methotrexate (MTX) compared with Humira (adalimumab) plus MTX in the treatment of patients with moderate to severe rheumatoid arthritis (RA).
The EXXELERATE study will enroll about 900 adult patients from the US, Canada and Europe, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Volt May Be Most Government-Supported Car Since The Trabant, And Average Owner Makes $170,000

Posted: 21 Dec 2011 06:18 AM PST

Michigan Capitol Confidential — “Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.

The Volt is subsidized by multiple companies on its way to production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Belgium NBB Business Climate Improves In December

Posted: 21 Dec 2011 06:10 AM PST

Forexpros – Belgian business confidence improved more-than-expected in December, but remained in negative territory for the eighth consecutive month, official data showed on Wednesday.

In a report, the National Bank of Belgium said its business climate index improved by 1.6 points to a seasonally adjusted minus 10.6 in December from a reading of minus 12.2 in November.

Analysts had expected the index to improve by 1.1 points to minus 11.1 in December.

On the index, a reading above 0.0 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Pushes Higher After ECB 3-year Tender

Posted: 21 Dec 2011 06:08 AM PST

Forexpros – The U.S. dollar pushed higher against almost all of its major counterparts on Wednesday, as risk appetite was hit after a refinancing operation by the European Central Bank failed to ease investor concerns over the debt crisis in the euro zone.

During European afternoon trade, the dollar was higher against the euro, with EUR/USD shedding 0.20% to hit 1.3055.

The ECB allotted EUR489.19 billion in three-year loans to 523 European banks in an attempt to avert a liquidity crunch in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rating Agencies Revise CCI Outlook

Posted: 21 Dec 2011 06:05 AM PST

Crown Castle International Corp.'s (NYSE:CCI) recent decision to acquire privately held NextG Networks Inc. for approximately $1 billion prompted several credit rating agencies to revise the company's ratings outlook. Yesterday, Standard & Poor’s Ratings Services revised its rating outlook for Crown Castle to Stable from Positive. Crown Castle has decided to fund its proposed acquisition through debt financing. S&P argued that this decision will put further pressure on the company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Peaceful Costa Rica New Casualty Of U.S. Drug War

Posted: 21 Dec 2011 06:00 AM PST

National Public Radio — “Costa Rica is Central America’s most stable democracy, a peaceful country that abolished its army in 1948 and now draws nearly a million U.S. tourists a year to its national parks and beaches. But it’s also right in the middle of the world’s most lucrative cocaine trafficking corridor.  As Mexican drug cartels push deeper into Central America, they’ve cast a dark shadow over Costa Rica’s idyllic green image.

Recent polls show that crime and security are the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AK Steel Hikes Product Prices

Posted: 21 Dec 2011 05:50 AM PST

Effective immediately, AK Steel Holding Corporation (NYSE:AKS) would increase the current spot market base prices for all carbon flat-rolled steel products by $50 per ton, due to the increase in raw material prices. 
A few days back, AK Steel issued its fourth-quarter 2011 guidance, having deferred it earlier due to uncertain and volatile economic conditions.
The company expects non-cash, pre-tax corridor charge to be approximately $250 million in the fourth quarter. Besides, shipments and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Canada Core Retail Sales Rise More-than-expected

Posted: 21 Dec 2011 05:37 AM PST

Forexpros – Core retail sales in Canada rose more-than-expected in October, increasing for the third consecutive month, official data showed on Wednesday.

In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.7% in October, exceeding expectations for a 0.4% increase.

Core retail sales for September were revised down to a 0.4% gain from a previously reported 0.5% increase.

Total retail sales rose by a seasonally adjusted 1.0% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fed Submits New Rules For Banks

Posted: 21 Dec 2011 05:35 AM PST

Yesterday,the Federal Reserve came up with a series of new stringent rules for the largest U.S. banking institutions in order to stabilize the financial system. Fed proposed certain requirements, which the financial institutions need to fulfill to prevent another financial crisis. 
The rules proposed by Fed will take under its purview not only the U.S. bank holding companies, but also other financial firms, which the U.S. regulators consider critically important for the functioning of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Nike Beats On Stronger Sales

Posted: 21 Dec 2011 05:25 AM PST

Nike Inc. (NYSE:NKE) posted earnings of $1.00 per share for second-quarter 2012 that beat the Zacks Consensus Estimate of 97 cents and rose 6.4% from the year-ago earnings of 94 cents. Management hinted that strong top-line performance coupled with selling and administrative expense leverage and lower average share count gave a boost to the bottom-line.
Quarterly Details
Nike’s total revenue grew 18% to $5,731 million from $4,842 million in the prior-year quarter, primarily driven by growth in all … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Trims Gains As Risk Appetite Wanes

Posted: 21 Dec 2011 05:18 AM PST

Forexpros – The pound pared gains against the U.S. dollar on Wednesday, as risk appetite ebbed amid renewed concerns over the debt crisis in the euro zone after a refinancing operation by the European Central Bank.

GBP/USD retreated from 1.5773, the pair's highest since December 8, to hit 1.5690 during European afternoon trade, still up 0.18% on the day.

Cable was likely to find support at 1.5657, the days low and resistance at 1.5773, the days high and a nine-day high.

Earlier in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Coffee Futures Resume Decline, Colombia Fears Support

Posted: 21 Dec 2011 05:08 AM PST

Forexpros – Coffee futures edged lower on Wednesday, re-approaching a one-year low as ongoing concerns over ample global supplies weighed, while fresh fears over coffee crop conditions in Colombia limited losses.

On the ICE Futures Exchange, Arabica coffee for March delivery traded at USD2.2053 a pound during European afternoon trade, shedding 0.25%.

It earlier fell by as much as 0.55% to trade at a daily low of USD2.1922 a pound. Prices dropped to a one-year low of USD2.1237 a pound on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Fall On ECB Loans; DAX Down 0.02%

Posted: 21 Dec 2011 04:47 AM PST

Forexpros – European stock markets turned lower on Wednesday, after the European Central Bank met record-high demand for its three-year loan offer, highlighting the amount of pressure weighing on the region's banks.

During European afternoon trade, the EURO STOXX 50 fell 0.15%, France's CAC 40 declined 0.37%, while Germany's DAX 30 inched down 0.02%.

The ECB offered EUR489.2 billion in an auction of three-year loans, much higher than estimated, with a total of 523 bidders, in an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Pares Gains After ECB Tender

Posted: 21 Dec 2011 04:28 AM PST

Forexpros – The euro pared gains against the U.S. dollar in thin trade on Wednesday, after greater-than-expected demand at a refinancing operation mounted by the European Central Bank failed to alleviate concerns over the financial crisis in the region.

EUR/USD pulled back from 1.3197, the day's high, to hit 1.3086 during European early afternoon trade, up just 0.03% on the day.

The pair was likely to find support at 1.2992, Tuesday's low and resistance at 1.3236, the high of December … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Futures Higher After ECB Move; Dow Jones Up 0.30%

Posted: 21 Dec 2011 03:59 AM PST

Forexpros – U.S. stock futures pointed to a higher open on Tuesday, after the European Central Bank reported stronger-than-expected demand for a highly anticipated refinancing operation.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.30%, S&P 500 futures signaled a 0.20% increase, while the Nasdaq 100 futures indicated a 0.21% gain.

The ECB offered EUR489.2 billion in an auction of three-year loans, much higher than estimated, with a total of 523 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Soybeans Fluctuate With South America Rains In Focus

Posted: 21 Dec 2011 03:28 AM PST

Forexpros – Soybean futures swung between small gains and losses on Wednesday, but remained close to a one-month high as traders focused on short-term weather forecasts for Brazil and Argentina, the world's second and third largest soy producers.

On the Chicago Mercantile Exchange, soybean futures for January delivery traded at USD11.4538 a bushel during European morning trade, easing up 0.1%.

The January contract traded between a range of USD11.4112 a bushel, the daily low and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Euro Weakens After ECB Tender Attracts Record Demand

Posted: 21 Dec 2011 03:13 AM PST

Forexpros – The euro gave up gains against the U.S. dollar and slipped to an almost one-year low against the pound on Wednesday, after the European Central Bank allotted a record amount of loans to European lenders in a refinancing operation.

During European late morning trade, the euro pared gains against the U.S. dollar, with EUR/USD up 0.07% to hit 1.3093, down from the session high of 1.3196.

The ECB allotted EUR489.19 billion in unlimited three-year loans to 523 European banks in an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/CHF Trims Losses After ECB Operation

Posted: 21 Dec 2011 02:56 AM PST

Forexpros – The U.S. dollar trimmed losses against the Swiss franc on Wednesday, after the European Central Bank reported stronger-than-expected demand for a refinancing operation, supporting safe haven demand.

USD/CHF hit 0.9263 during European morning trade, the pair's lowest since December 12; the pair subsequently consolidated at 0.9299, shedding 0.20%.

The pair was likely to find support at 0.9175, the low of December 8 and resistance at 0.9380, the high of December 20.

In its first … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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